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PBS
Aug 14, 2009 7:00pm EDT
also encouraging more debit card use. and consumers are using it to manage their money. clark says it helps him control spending. >> i check my bank account more frequently than i check my credit card account, so i'm more in tune with how much money i have to spend. >> reporter: as debit card use surpasses credit cards that presents new challenges for both consumers and regulators. debit cards come with fewer built-in protections. consumer advocate ed mierzwinski warns in the case of a lost or stolen card number, the debit card holder can be on the hook for much more than if a credit card were used. >> the maximum amount you can lose with a credit card is only $50. with a debit card, you could lose all the money in your account if you don't comply with all of the complicated rules. the credit card is protected very well, debit card is not. >> reporter: consumers can also get in over their heads with charges for overdrawing their accounts. the banking industry takes in $38 billion a year in overdraft fees. banks also profit from fees charged to merchants to process debit card transacti
PBS
Aug 5, 2009 7:00pm EDT
about goldman's use of credit derivatives. those risky derivative contracts caused lehman brothers to collapse and almost took down a.i.g. >> paul: tonight's "street critique" guest says the tech market's at a critical point. he's todd harrison, founder and ceo of minyanville.com. todd welcome back to nbr. >> it's great to be here, paul, thank you. >> paul: you're a veteran trader. what are you seeing that has you so kerned about the tech. stock? >> well, as a trader i'm more concerned, i'm less concerned with the destination we arrive at, versus the path we take to get there. so i'm looking for risk reward constantly in the marketplace. and i think that we're at a juncture right now for the technology sector that is critical. it is a confluence of technical levels that i'm looking at, the down trend lines for 2007 and also the point that the tech. market broke from in this past support as future resistance in the marketplace, these two lines are crossing precisely where we are now, which happens to coincide with the 50% retradesman of the entire technology decline from the top of
WETA
Aug 25, 2009 6:30pm EDT
. you support the bnanke renomination. tell us why. >> yes, unquestionably. the fit issue you have to decide on, whether y thi he deserv to be reappointed. th's a question of how good a job 's done as chairman. i believe he's done an exceptional job dung extraordary tim. he's been aggressive and creave. and put in place a set of pocies that pulled the economy back from the edgef an abyss, an it set the foundation for at least positive groh, although subdued growth in the quarts ahead. >> susie: david, do youagree wi larry? did president obama dohe right thing byenominating ben bernanke >> without question. the renomination bernankeas a key decision by the president. well-deserved as larry sugsts. we had a difficult test situation for a new fed chairman, maiy witacademic experience. e good news was he had studied the greatepression as an academics the president alluded to i don't think hever thought he'd be in a posion where he was ying to keep the economy out of another great depression, but he's really done a goo job. he has been bold. he's ud imagination. he used both convention fed
PBS
Aug 21, 2009 7:00pm EDT
" of the financial system. joining us now with more analysis, robert mcteer, former president of the federal reserve bank of dallas and currently distinguished fellow at the national center for policy analysis. nice to see you on the program again. >> thank you, susie, good to be with you. >> susie: is ben bernanke right about the economic outlook? >> well, i hope so. and probably. i think there's a good chance we'll get a positive g.d.p. number for the current quarter, primarily, though, because of inventory rebounds and the cash for clunkers. i'm not real confident that that can be sustained. i think the consumer has real headwinds that he's facing, and if he's going to be doing any saving in the future, consumption's going to be weak for? time. so if we start a recovery, i think it's going to be a weak recovery, and it could be a false start. >> susie: are you saying that you do not agree with bernanke's assessment that the u.s. economy is coming out of the recession? >> i think it's-- it's about to emerge. whether it's going to emerge strongly enough for it to be sustainable is--
PBS
Aug 12, 2009 7:00pm EDT
. >> reporter: the super low interest rates americans have been enjoying are likely to stay with us for a while longer. wrapping up its policy meeting, the federal reserve left the benchmark short-term rate close to zero percent, saying economic conditions warrant it. economist steve ricchuito says the fed is not telegraphing when it will raise rates, but he has his own guess. >> our personal bet is that we won't see any real movement on rates until we get to the second or third quarter of next year, and that's contingent on the economy really finding its feet and starting to be able to move sustainably forward. >> reporter: in assessing the economy, the fed said activity is leveling out, but likely to remain weak for a time. it also acknowledged financial market conditions have improved in recent weeks. policymakers also opted to slow the pace of purchases of long- term treasuries, extending the emergency rescue program by one month until the end of october. economist drew matus says the fed wants to get the bond market used to functioning without the central bank as a big buyer. >> it m
WETA
Aug 21, 2009 6:30pm EDT
sysm. joining us nowith more analysisrobert mcteer, former present of the federal reserve bank of dall and currently distinguished fellow at e tional center for policy analysis. nice to see you the program agai >> thank you, susie, good to be with you. >> susie: is ben bernanke right about the economic outlook? >> well, i hope so. and probabl i thk there's a good chance we'll get a positive g.d. number for the current quarter, primarily, though, bauseof ventory rebounds and the sh for clunke. i'm not real confident that that can be sustaine i think the consumer h real headwinds that he' facing, and if he's going to be doing any saving in e future, consumption's ing to be weak fo time. so if wetart a recovery, i think it going to be a weak recovery, and it cou be a false sta. >> susie: e you saying that you do not agree with bernanke's assessment that the u.s. economy is coming out of the recession? >> i think it'- it's abo to emerge. whether it's going t emerge stroly enough for ito be stainable is-- is what i worry about. >> susie: well, a t of the another re, because you were talking
WETA
Aug 21, 2009 1:00am EDT
october crude futures fell 92 ces to $72.91 a barrel. joining us n to talk more out the outlook for prices, john kilduff energy analt at m.f. global. hi, john. hi, good evening, susie. >> so you' predictin $100 oil by the e of the year. that's a big mo from where we are rig now. give us your analysis? >> well, it's a very real possibility. because all the elents that a at work rht now in the various markets, the recovery youee in the stock market n a way f right now it's good news for us l that oil pces are where they are because it a real validation that economic activity is back in th calculus of evything, particularly in china and certaiy in what we are seeing in europe. as you mentionedoday about the earlier ithe show about the leading economic indicators, showing ather potive reading today. l combining to help push these oil prices up. >> is real demand, john? because we alway here about -- heaabout eculations in the markets, manipulation in the oil market is this real economic activity? >> it's a combinatn of real enomic activity. it's also combinationof dend -- inflation fea
WETA
Aug 18, 2009 1:00am EDT
recession. glal markets strategist stu schweitzer joins us r a look at the b picture. just to be on the safe sid we decided not tkill any engines shred any cars until the government funds the program. d pays for it. >> paul: sam mansouri'among thousands of car dealers waing on a "cash forlunkers" payday d wondering what's nexfor the industry >> jeff: then, shares of lows get nailed, faing 10% as the home impvement retailer's latest earnings miss the mar and it pulls bk on expansion pls. >> paul: i'm paul kaas. >> jeff: and'm jeff yastine. sie gharib is off tonight. this is "nightly busines report" for mond, august 17. "nightly business report" is made possib by: this program was me possible byontributions to your pbs station from viewe like you. thk you. >> jeff: good eveng, everyone. stoc tumbled today as a global sell-o spilled over to wall street. dragging the globaeconomy lower. on wall street, the lling was broad and deep, thedow dropped 186 points,nasdaq fel 54 and thes&p 500 los 24. woies about the recovery and consumers' willingness t spend has se wonderi the summer rally is ove
PBS
Aug 27, 2009 7:00pm EDT
f.d.i.c. expects $32 billion will be used for losses regulators already see coming. that leaves a little more than $10 billion to cover the unexpected. and with 416 banks on the f.d.i.c.'s problem list holding assets of $300 billion, there is plenty of room for unexpected. >> they're going to need more money. >> reporter: doug elliott studies the financial crisis for the brookings institution. if needed, the fdic can borrow from the treasury to shore up it's deposit insurance fund, but elliott thinks taxpayers won't have to any losses. >> my best guess is that taxpayers won't have to put up anything. that the premiums they can charge to the banks over the next, say ten years, can cover this crisis. but we don't know. >> reporter: james chessen, chief economist, for the american bankers association says banks are doing their part to help the fdic. they are already paying higher premiums for deposit insurance and the industry set aside $67 billion in the second quarter to cover their growing loan losses. >> it's a matter of trying to be prudent having income a little less because th
WETA
Aug 17, 2009 6:30pm EDT
recession. glal markets strategist stu schweitzer joins us r a look at the b picture. just to be on the safe sid we decided not tkill any engines shred any cars until the government funds the program. d pays for it. >> paul: sam mansouri'among thousands of car dealers waing on a "cash forlunkers" payday d wondering what's nexfor the instry. >> jeff: then, shares of lows get nailed, faing 10% as the home impvement retailer's latest earnings miss the mar and it pulls bk on expansion pls. >> paul: i'm paul kaas. >> jeff: and'm jeff yastine. sie gharib is off tonight. this is "nightly busines report" for mond, august 17. "nightly business report" is made possib by: this program was me possible byontributions to your pbs station from viewe like you. thk you. >> jeff: good eveng, everyone. stoc tumbled today as a global sell-o spilled over to wall street. dragging the globaeconomy lower. on wall street, the lling was broad and deep, thedow dropped 186 points,nasdaq fel 54 and thes&p 500 los 24. woies about the recovery and consumers' willingness t spend has se wonderi the summer rally is over
WETA
Aug 27, 2009 1:00am EDT
. >> paul: the bgain hunter rerns. street critique gut patrick o'ha of briefing.com tells us why kraft foods has landedn his bargain basement rad. >> jeff: then,emembering the liberal lion weook at how the late senator ted kennedy shaped hlth care form and what happens to tho forts now. >> pau i'm paul kangas. >> jeff: and i'm jf yastine. susie gharib is onssignment. thiss "nightly business report" for wednesday,ugust 26. "nightly business repo" is made poible by: this pgram was made possible by contributions to ur pbs station from viewe like you. thank you. >> jeff: good evening, eryone. a much bigger increase tha forecast. sas of new homes jumped 9.6% in july. could be the housing market is turning? scott gurvey repts. >> reporter: it was the foth straight month of increased new homeales and although this is a number with a wide marn of error, it did encouragthose who see a bottom in housg. beth ann bovino of standd and poor'sotes there has also been increased bung of distressed properties and existg homes. >> those homeowners were actually free to move and actuly buy something elwhe
PBS
Aug 3, 2009 7:00pm EDT
ever been. darren gersh, "nightly business report", washington. >> susie: joining us now with more analysis, richard bove, veteran banking analyst at rochdale securities. >> suzanne: let's get right to the $3 million settle -- $33 settle., should it have been more? >> i don't think it should have been more. i don't think the government should tell a company to do something then fine them after they do it. but $33 million is very small relative to the $5.8 billion in bonuses that were paid. i'd say just a slap on the wrist. it wasn't a meaningful statement by the government. >> shareholders have been very angry about this whole b of a/merrill lynch merger, should they be satisfied been this news? >> you can't be satisfied if the sec fines your company. but i think they have to feel some degree of relief that there ll be no further activity related to this situation. that it will not hurt their stock price, will not hurt their company. they can move on and forget this for the moment. >> do you think new york attorney general will move on, they have been grilling bank of america overa
WETA
Aug 24, 2009 6:30pm EDT
, "nitly business repo", washington joining us now, orge magliano, dictor of automotive research at global insight. >> hi, h you doing? >> good. thanks. s this cash for clunkers program worth it? >> most defitely. it has bn a rousing success. it was amazing the way it started off with the first billion llars and we thought when they put the extra $2illion in things would slow down a bit. but viously the consumers warmed up to thing and theyave been going to the show rooms in droves. and it really is -- it' helped pick up sales in the short run and is going to fee its way back into production and employment and into e economy. >> wel do you think that you're going s more momentum on auto saleill this spark a covery for the autoindustry? >> no. what's goingo happen is once the stimulus is removed, onc the program is stopped,nd there's no mor money coming, sales will drop back down. drop back down to e levels that ty were at the beginning of the year. that's becau of the recession, but what's happened isbecause of the program, we he seen maybe abt a third of the buyers that have come ,
PBS
Aug 4, 2009 7:00pm EDT
public and they're an advantage of literally milliseconds. they're used by high frequency traders or big brokerage firms and hedge funds with super-fast, computerized trading programs. flash orders account for almost 2.5% of all trades in the u.s. the traders make tiny profits on individual moves but added up, the profits can be huge. >> paul: tomorrow, we talk markets with street critique guest todd harrison. he's founder and c.e.o. of minyanville.com. >> susie: another sign of the financial stress caused by the recession. consumer and business bankruptcy filings were up again last month. more than 125,000 consumers filed for bankruptcy in july. that's the highest monthly total since the bankruptcy code was overhauled in 2005. businesses seeking bankruptcy protection spiked 42% mostly due to the lack of financing available for troubled companies. >> paul: sony is launching a new electronic book reader to compete with amazon's kindle. the company is unveiling its "reader pocket edition" tomorrow. it will hit stores by the end of the month. the basic "reader" model will retail at $
WETA
Aug 13, 2009 6:30pm EDT
to be really smart out how you use your money nowadays, so coming here, it a better way to ve money. >> suzanne: th's jennifer, and value is w she and millions of her freshman are staying clo to home for collegthis fall. >> paul: i'm paul kang. >> suzan: and i'm suzanne pratt. susie ghar is off tonight. this is "nightly busins report" fothursday, august 13. "nightlyusiness report" is made possible by: this progr was made possible by contributions to yourbs statn from viewers like you. thank you. >> suzanne: go evening, everyo. toy is the deadline for seven lae companies to submit their executive compensation planso the obama admistration's pay ar. tomoow, kenneth feinberg will begin reviewing the pay plan for the rms still on government life suort, including tigroup and g.m. feinberg has 60 days taccept or reject e proposals. joining me now wh his thoughts on the hotopic of executive compensaon is charles elson. is a professor at the university of delaware and director of thweinberg center for corporate governance. lcome to the program. >> gd evening. good tbe with you. >> suzanne:
PBS
Aug 25, 2009 7:00pm EDT
which americans' hard work and creativity can receive their proper rewards. >> susie: joining us now with more on bernanke, laurence meyer, former fed governor and now vice chairman, macroeconomic advisers and david jones, c.e.o. of d.m.j. advisors and author of "unlocking the secrets of the fed". test. >> good evening. >> larry, let me begin with you. you support the bernanke renomination. tell us why. >> yes, unquestionably. the first issue you have to decide on, whether you think he deserves to be reappointed. that's a question of how good a job he's done as chairman. i believe he's done an exceptional job during extraordinary times. he's been aggressive and creative. and put in place a set of policies that pulled the economy back from the edge of an abyss, and it set the foundation for at least positive growth, although subdued growth in the quarters ahead. >> susie: david, do you agree with larry? did president obama do the right thing by renominating ben bernanke? >> without question. the renomination bernanke was a key decision by the president. well-deserved as larry suggests
PBS
Aug 18, 2009 7:00pm EDT
selling is often seen as an indicator of market direction. joining us now to talk about that and his market outlook, art hogan, chief market analyst at jefferies and company. >> hi, right a.>> hi. >> what's your take on insider selling? is this a sign that investors should lighten up a bit? >> it's interesting. we take that as a signal, and if you bow did back in history and look at the market timing, insider sales, it doesn't correlate very well. what it does tell us, though. is for the first time in a period of time there's a lot of insiders that feel they've gotten to a point where they're not underwater, not underwater on share prices, meaning a lot of insiders get their stock because of compensation. you know, imagine, if you will, you received stock as compensation at $20, goes to $10, now it's at $22, and up the to make a sale because you don't want to it go back to $10. that doesn't mean it will go to $10 or $25. typically the market senses a negative signal. it's something to keep an eye on. >> susie: over time, so many studies have been done, the trends in insider selling m
WETA
Aug 14, 2009 6:30pm EDT
use. and consums are using it to manage their money. clark says it helps him contl spending. >> i check my bank accnt more frequently than check my creditard account, so i'm more in tune with howuch money i ve to spend. >> reporter: as debicard use surpasses creditards that presents newhallenges for both consumerand regulators. bit cards come with fewer ilt-in protections. consumer advocate ed mierzwiki warns in thease of a lost or stolen card numberthe debit card holder n be on the hook for much more than if credit card were us. >> the maximum amount you ca lose with a edit card is only $50. with a debit cd, you could lose all the money in yo account you don't comply with l of the complicated rules. the credit caris protected very wel debit card is not. >> reporter: consumers can ao get in over their heads wi charges fooverdrawing their accounts. the bankg industry takes in $38 billion a year in overaft fees. nks also profit from fees charged to merchantso process debicard transactions. >> the banks allowour debit card to rk at a merchant, even when you don't have monein your acc
PBS
Aug 10, 2009 7:00pm EDT
slowly. which brings us to the second answer: bond traders are anticipating higher rates as soon as the fourth quarter. but bob brusca of fact and opinion economics says we will not read that the fed believes the crisis is over. >> once the fed goes for business as usual, then it needs to start taking out the excess reserves, getting rates back up into a more neutral framework, and that's where i don't think we are yet. as to the final question, the future of the chairman who has taken a lot of political heat in recent months in washington. wall street will get no information whatsoever in the fed statement, and be left guessing as to his reappointment chances. >> it's certainly being talked about, and i think i've seen polls on this. and the vast majority of economists support bernanke being re-appointed, and i certainly agree with that. >> the easiest decision that obama has is re-appointing bernanke. other decisions will expose him to much more risk than he needs to deal with. and frankly, he's got enough tough decisions to wade into than this one, this one is easy. >> reporter: it's
WETA
Aug 18, 2009 6:30pm EDT
shares. thisptick in insider selling is often seen as an indicatoof market directi. joining us now to talk abo th and his market outlook, art hogan,hief market analyst at jferies and company. >> h right a.>> hi. what's your take on insider selling? is this a sig that investo shou lighten up a bit? >> it's interesting. we take that as a signal, an if you bow did back i history and ok at the markettiming, insider sales,t don't correlatvery well. what it does tell us, though. is for the firstime in a peod of time there's a lot o insiders that feel they've gotten to aoint where they're not underwater, not underter on sharerices, meaning a lot insiders get their stk because compension. you know,magine, if you wil you receid stock as compensaon at $20 goes to $10, now it's a $22, and up the to make sale because you don't want to it go back to $10. that dsn't mean it will go to $10 or $25. typically th market sens a negative sigl. it's somethi to keep eye on. >> susieoverime, so many studiehave been done, the trends in sider selling mimics what's going to happen. inarch, insiders started buy
PBS
Aug 7, 2009 7:00pm EDT
, lifestyle changes made in response to the recession are likely to continue. >> i used to spend ridiculous amounts of money on going out to eat and shopping, and whatnot. and because of everything that's happened, it's not just myself, even for my friends with jobs, it's been very sobering. >> reporter: the unexpected decline in the unemployment rate is being taken with a big grain of salt by many economists. a lot of job seekers gave up their search in july, and the jobless rate could tick up again if they resume looking for work. scott gurvey, "nightly business report," new york. >> jeff: well, just the hint of slowing job losses had the bulls roaring and short sellers yelling for mercy. the dow popped 160 points higher in the first 90 minutes of trading. consumer-related stocks, like american express, disney and home depot, were favorites on the day. both the dow and nasdaq surged in the early afternoon, but some traders cashing out ahead of the weekend trimmed the gains. the dow still finished up 113.81 points at 9370.07. this week, it fell twice and rose three times for an
PBS
Aug 20, 2009 7:00pm EDT
fell 92 cents to $72.91 a barrel. joining us now to talk more about the outlook for prices, john kilduff energy analyst at m.f. global. hi, john. >> hi, good evening, susie. >> so you're predicting $100 oil by the end of the year. that's a big move from where we are right now. give us your analysis? >> well, it's a very real possibility. because of all the elements that are at work right now in the various markets, the recovery you see in the stock market n a way for right now it's good news for us all that oil prices are where they are because it is a real validation that economic activity is back in the calculus of everything, particularly in china and certainly in what we are seeing in europe. as you mentioned today about the earlier in the show about the leading economic indicators, showing another positive reading today. all combining to help push these oil prices up. >> is it real demand, john? because we always here about -- hear about speculations in the markets, manipulation in the oil market is this real economic activity? >> it's a combination of real economic activity
WETA
Aug 10, 2009 6:30pm EDT
with the idea at the economy is improving slowly. which brings us tohe second answer: bo traders are antipating higher rates as soon as the fourthuarter. but bob bruscaf fact and opinion economics says we wi not read that e fed believes the crisiss over. >> once the fed go for business as ual, then it needs to start takg out the excess reserves, getting tes back up into more neutral framework, d that's where i don't think we are y. as to thfinal question, the future of thchairman who has taken lot of political heat in recent months inashington. wall strt will get no information whatsoever ithe fed atement, and be left guessing as to his reappointnt chances. >> it's certainly being taed about, and i think ie seen polls this. and the vast majority of economists support bnanke being re-aointed, and i rtainly agree with that. >> the easiest decision th obama has is re-pointing rnanke. other decisis will expose him to much moreisk than he needs toeal with. and frankly, hs got enough toh decisions to wade into than this one, ts one is easy. >> reporter: it's ha to find anybody on wall stet
PBS
Aug 24, 2009 7:00pm EDT
get connected to people inside your target companies. if you've exhausted your networking list, use social networking sites like linkin and facebook. >> reporter: the point of a site like linkedin is to find people working at the company where you want to work. you may find that a friend of a friend works there. and by connecting with that person, you can get your foot in the door. it's all about getting someone inside the company to know who you are. and getting buzz around your name. >> so if you can get that person to walk that resume down the hallway and hand it to someone who's hiring and say, "you really need to speak with this person," that's the optimal way. that's how you set yourself apart from the hundreds of resumes that come across a hiring manager's desk or an hr person's desk. >> reporter: nevertheless, labor economist lawrence mishel says even top-notch networking won't change the fact that there just aren't a lot of jobs out there. >> we're in an unfortunate situation now where there are six people unemployed for every job opening. so it's not going to be easy for p
WETA
Aug 22, 2009 1:00am EDT
. joining us n with more analys, robert mcteer, former prident of the federal reserve bank of daas and currently distinguished fellow athe national center for policy analysis. nice to see yoon the program agn. >> thank you, susie, good to be with you. >> susie: is ben bernanke right about the economic outlook? >> well, i hope so. and probay. i ink there's a go chance we'll get positive g.p. number for the current quarter, primarily, though,ecause of inventory rebounds and thcash for clunrs. i'm not real confident that tha can be sustaid. i think the consumeras real headwinds that hs facing, and if he's going to be doing any saving ithe future, consumption'going to be weak r? time. so if we start a recovery, i think 's going to be a weak recovery, and it cld be a false srt. >> susieare you saying that you do t agree with bernanke's assessment that the u.s. economy is comin out of the recession? >> i think is-- it's aut to emerge. whether it's goingo emerge stngly enough fort to be sustainable is-- what i worry abou >> susie: well, lot of the anothehere, because you were talkinabout
WETA
Aug 19, 2009 1:00am EDT
shares. is uptick in insider selling is often seen as an indicator market direction joining us now to talk about thatnd his market outlook, art hogan, cef market analyst at jefries and company. >> hi,ight a.>> hi. >>hat's your take on insider selling? is this a sign that investors shouldighten up a bit? >> it's interesting. take that as a signal, and if you bow did back in history and lo at the market ming, insider sales, i doest correlate ry well. at it does tell us, though. is for the first te in a peri of time there's a lot of siders that feel they've gotten to a pnt where they're not underwater, not underwar onshare pces, meaning aot of insiders get their stoc because of compensatn. you know, igine, if you will, you receive stock as compensati at $20, goes to $10, now it's at $22, and up the to make a le because you don't want to it go back to $10. that doe't mean it will go to 0 or $25. typically the market senses negative signa it's somethingoeep anye on. >> susie: er te, so many studies ve been done, the trends in inder selling mimics what's going to happen. in mch,insiders sta
WETA
Aug 20, 2009 6:30pm EDT
$100 oil by the endf the year. that's a big moverom where we are rightow. give us yournalysis? >> well, it's a very real possibility. because ofll the elemes that aret work rig now in the various markets, the recovery you s in the stock market n a way for right now it's good news for us al that oil pris are where they are because it is a real validation that economic activity is back in the calculus of everhing, rticularly in china and certainlin what we are seeing in europe. as you mentioned tay about the earlier in e show about the leading economic indicators, showing anoer posive reang today. all combining to help push these oil pric up. >>s it real demand, joh because we aays here about --ear about speculations in the market, manipulation in the l market is thiseal economic activity? it's a combinatioof real ecomic activity. it's also aombination dema -- inflation fears that are in this market that e beingdriven by budget and monetary policiesround the world. alsohe fallingdollar is driving this prospect as well. it's a coinationof that and constrained supply. sai arabia i
WETA
Aug 31, 2009 6:30pm EDT
watch the labor markets forey sis. >>e'll see a littlemore use ofpart-time labor. we'lsee the woreek expanding. those are this we wantto watcfor. becauswe typicly ask people to rk longer weeks before we hire new peopl as we start getting into recovery. reporter: we'll see that information on friday in the august employment port. scott gurvey, nitly business report, new york. >> sus: a big merr monday on wall strt. running e gamut from ergy to entertainment. firstaker hughes auying b.j.services in a dealworth $5.5 billion both firms are energy service companies and the move is a way to eand their range of products inrospects around the globe. the second big dea, spiderman is becoming theewest resident of the house of the mouse. walt disney is buyg marve entertainment for abou $4 billio theurchase brgs a slew of wellnown film characters under the disney umbrella including spiedy, the x-m, captain america d the fantastic four it's the biggest media deal for disney since it bout pixar animation studios back in 2006. it also the first big media al since the global financialrunch. analts s
PBS
Aug 19, 2009 7:00pm EDT
will use all of the enforcement tools at our disposal to pursue you. for honest hard working everyday americans. school teachers, firemen, policemen who pay their taxes. the message is also there. wealthy people can't skirt the rules and hide assets. we are going to insure that everyone pays their fair share of taxes. >> susie: speaking of fair shares, late this afternoon, the swiss government announced its selling its stake in u.b.s. the swiss hope to recoup more than $5.5 billion on that sale. and changes are coming tomorrow for american consumers. thanks to the credit card act of 2009, a new set of rules goes into effect. including, the ability to reject rate increases. but as jeff yastine reports, it's already having some unintended consequences. >> reporter: across the country right now, there are thousands of people just like kirk arthur. he keeps several credit cards. and when he attempted to make a small purchase with one of them last weekend, he found it was canceled without any advance notice. >> there's that feeling of embarrassment. you feel, oh, what did i do wrong? and t
WETA
Aug 20, 2009 1:00am EDT
the agreement sends a strong message to l americans, incling tax chts. >>e will use all of the enforcement tools at our disposal to pursueou. for honest hard workineveryday american school teachers, firemen policemen who patheir taxes. the message is alsthere. wealthy ople can't skirt the rules and hide assets. we a going to insure that everyone pays their fairhare of taxes. >> susie: eaking of fair shareslate this afternoon, the swiss government annoued its selling itstake in u.b.s. thswiss hope to recoup more th $5.5 billion on that sale. and anges are coming tomorrow for american consume. thanks to the credit caract of 2009, a neset of rules goes into effect. includin the ability to reject rate increases. but as jeff yastinreports, it's alrdy having some untended consequences. reporter: across the countr right now, therere thousands of pple just like kirk arthur. he keeps several cret cards. and when he atteted to make a smalpurchase with one of them last weekend, he found it was canceled wiout any advance tice. >> there'shat feeling of emrrassment. you feel, oh, wh did i do
WETA
Aug 27, 2009 6:30pm EDT
$32illion will be used f losses regulato already see coming. that leaves little more than $10 billion to cover the unexpected. and th 416 banks on the f.d.i.c.'s problem list hoing assets of $300illion, there is enty of room for unexpected. >> there going to need more money. >> reporter: doug elliot studies the finaial crisis for thbrookings institution. if needed, the fdic can borr om the treasury to shore up it's depos insurance fund, but elliott thin taxpayers won't ve to any losses. >> my best gss is that taxpays won't have to put up anything. that the pmiums they can charge to the nks over the ne, say ten years, can cover this crisis. but we don't know. >> reporter: jam chessen, chief onomist, for the american bkers association says bks are doing their part to help the fdic. they are alreadyaying higher premiums for deposit insurce and the industry setside $67 billioin the second quarter to cover their growing lo losses. >> it's a maer of trying to be prudent having income a litt ss because they want to have the resources set asidto handle the loan loes they expect isuch a deep rece
WETA
Aug 11, 2009 6:30pm EDT
. susie: i'm susie arib. this is nitly business report for use it, august 11th. th program was made possible by contributns to your pbs station from viewers likyou. thank you. 7//& captioning sponsored bwpbt >> susie: hazardous to the econy's health. thatas the warning today from the congressional watchdog monitori the government's bailout of the tion's banks. according to report from the congressional oversht panel, banks still have plenty problem loans on thbooks and thatould threaten the economi recovery. how bais this situati? stephanie dew talked today with the panel' chairwoman, elizabeth rren. >> how vnerable is the financial stem to the toxic asse? >> what's vulnerable -- it's vulnerable in two waysfirst, mostf the toxic acids -- assets th were there in oober are still thereith all th implications terms of as they n't pay off, they run the risk ofringing the bank down the seconds so long as these assets remain onhe bank's books, every time they get capil in, they use it as sort of a hedge agnst those assets rather than turni around and lending that capital. so it gets in the
PBS
Aug 6, 2009 7:00pm EDT
used to but is effective in combining your work, even if it is stored on different computers in a network. but the biggest news is under the covers, "windows seven" is more stable, faster and smaller than vista. it ran well on my old laptop, which couldn't handle vista. pcmag.com's lance ulanoff agrees with my review and notes this time, microsoft has played down the hype. >> basically they're saying this is an operating system that works. it gets the job done. it's going to be learner. it's going to work on the hardware that you currently have. you won't necessarily have to upgrade to run it. i think they're going to right the windows ship with this operating system. >> reporter: so the verdict: if you're buying a new computer, yes, get "windows 7." in fact, that's the best way to do it. if you are already running vista, yes. the upgrade is virtually painless and you will be pleased you did it. still running xp, now it gets interesting. the answer is, maybe. a lot of people, including a lot of companies, skipped vista. if you not only skipped vista, but are also still running an
WETA
Aug 19, 2009 6:30pm EDT
agreement sends strong message tall americans, inuding tax eats. we will use all of the enforcement tools at o disposal to purs you. for honest hard workg everyday americs. school teachers, firem, policemen who y their taxes. the message is ao there. wealthpeople can't skirt the rules and hide assets. were going to insure that everyone pays their fa share of taxes. >> susiespeaking of fair shar, late this afternoon, the swiss government annnced its selling s stake in u.b.s. e swiss hope to recoup more an $5.5 billion on that sale anchanges are coming tomorrow for american consurs. thanks to the credit cd act of 2009, a w set of rules goes into effect. includg, the ability to reject rate increases. but as jeff yastine rerts, it's alreadyaving some uninteed consequences. >> rorter: across the country right now, there arehousands of peopljust like kirk arthur. he keeps several credit rds. and when he attempteto make a small puhase with one of them la weekend, he found it was canceled withouany advance noti. >> there's thafeeling of embarrsment. you feel, oh, what d i do wrong? and en i
PBS
Aug 31, 2009 7:00pm EDT
more use of part-time labor. we'll see the workweek expanding. those are things we want to watch for. because we typically ask people to work longer weeks before we hire new people. as we start getting into recovery. >> reporter: we'll see that information on friday in the august employment report. scott gurvey, nightly business report, new york. >> susie: a big merger monday on wall street. running the gamut from energy to entertainment. first baker hughes a buying b.j.services in a deal worth $5.5 billion. both firms are energy service companies and the move is a way to expand their range of products in prospects around the globe. the second big deal, spiderman is becoming the newest resident of the house of the mouse. walt disney is buying marvel entertainment for about $4 billion. the purchase brings a slew of well known film characters under the disney umbrella including spiedy, the x-man, captain america and the fantastic four. it's the biggest media deal for disney since it bought pixar animation studios back in 2006. it's also the first big media deal since the global financi
PBS
Aug 28, 2009 7:00pm EDT
. >> it would be more costly to the economy for us not to take care of those working families than it would be to invest in this benefit extension. and in fact, over time, this pays itself back. >> reporter: not everyone agrees. douglas holmes represents the business community, which is now struggling to pay benefits to workers. he says the extension could cost taxpayers as much as $70 billion. >> we need to sort of ratchet into a different gear and look at what we should be doing for the long-term unemployed, and not just paying additional weeks of unemployment insurance compensation. >> reporter: but for boteler, government money for unemployment insurance is a question of fairness. >> what about all the money they spent on the bailouts? that's costing the government a lot more money. >> this is what really keeps the people going. this is the thing, this makes a difference. >> reporter: congress is now considering a 13 week extension of benefits, but only in states with high jobless rates. with the national rate expected to keep rising, advocates for the unemployed say that's not
WETA
Aug 28, 2009 6:30pm EDT
would be more costlyo e economy for us not to take care of those woing families than it woulbe to invest in is benefit extension. and inact, over time, this pays itself back. >> reporter: not everye agrees. douglaholmes represents the business community, whicis now struggli to pay benefits to workers. he says the tension could cost taxpayers as much as $70 billion. >> we ne to sort of ratchet into a different gear anlook at whawe should be doing for the lo-term unemployed, and not just paying adtional weeks of unemployment insurae compensation. >> reporr: but for boteler, government money for unployment insurance is a question of fairness. >> wt about all the money they spent on the bailout that's costing the govnment a lot moreoney. >> ts is what really keeps the people going. this is ththing, this makes a difference. >> reporter: congress now considerina 13 week extension of benefits, but only states with higjobless rates. with the national rate expted keep rising, advocates for the unployed say that's not enough. darren ger "nightly business report", washington. >> susiein a big legal
PBS
Aug 13, 2009 7:00pm EDT
will be good for future purchases. >> you have to be really smart about how you use your money nowadays, so coming here, it's a better way to save money. >> suzanne: that's jennifer, and value is why she and millions of other freshman are staying close to home for college this fall. >> paul: i'm paul kangas. >> suzanne: and i'm suzanne pratt. susie gharib is off tonight. this is "nightly business report" for thursday, august 13. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> suzanne: good evening, everyone. today is the deadline for seven large companies to submit their executive compensation plans to the obama administration's pay czar. tomorrow, kenneth feinberg will begin reviewing the pay plans for the firms still on government life support, including citigroup and g.m. feinberg has 60 days to accept or reject the proposals. joining me now with his thoughts on the hot topic of executive compensation is charles elson. he is a professor at the university of delaware and di
WETA
Aug 5, 2009 6:30pm EDT
informion about goldman's use of credit derivatives. those riskderivative contracts caused lman brothers to collse and almost took down a.i.g. >> paul:onight's "street itique" guest says the tech market's at a crital point. 's todd harrison, founder an ceo ofinyanville.com. dd welcome back to nbr. >> it's great to be he, paul, thank yo >> paul: you're vetan trader. wh are you seeing tt has you so kerned about the ch. stock? >> well, a a trader i more concerd, i'm lessoncerned withhe destinatio we arrive at, versus thepath we take to get there. so i'm looking for risk reward constantly in the marketplac and i think thate're at a ncture right now for the technology sect that is critical. it is confluence of technil levels that i'm lookg at, theown trend lines for 200 and also t pot that the tech. market broke from in this past support as future resisnce in the marketplace, the two lines arerossing precisely where were now,which haens to coincide with the 50%etradesman of the ente technology declinerom the top o 2007. s i'm looki at this lel as a critic infltion point. i'm short te
WETA
Aug 7, 2009 6:30pm EDT
continue. >> i used to spe ridiculous amounts ofoney on going out to eat and shopping, and whnot. and because of evething that's haened, it's not jt myself, even for my friends with js, it's been very soberin >> reporter: the unexpecd decline inhe unemployment rate is being taken with a bigrain of salt many economists. a lot of job seekers gavup their search in ju, and the jobless rate cou tick up again if they resume looki for work. scott gurvey"nightly business report," new york. >> jeff: wel just the hint of slowing job losses had theulls roaring and short seller yelling r mercy. the dow popped 160 pointhigher in the fir 90 minutes of trading. consum-related stocks, like american expss, disney and home depot, were favores on the day. bothhe dow and nasdaq surged inhe early afternoon, but some traders cashing out ahead ofhe ekend trimmed the ins.ga the dow still finished up 1181 ints at 9370.07. this week, it fell twice a rose three times for an erall gain of 198.46 points. the nasdaq gaid 27 points to 2000.25. it also rose in ree out of the last 5 sessions for an orall advance of 2
PBS
Aug 17, 2009 7:00pm EDT
emergence from recession. global markets strategist stu schweitzer joins us for a look at the big picture. >> just to be on the safe side we decided not to kill any engines or shred any cars until the government funds the program. and pays for it. >> paul: sam mansouri's among thousands of car dealers waiting on a "cash for clunkers" payday and wondering what's next for the industry. >> jeff: then, shares of lowe's get nailed, falling 10% as the home improvement retailer's latest earnings miss the mark. and it pulls back on expansion plans. >> paul: i'm paul kangas. >> jeff: and i'm jeff yastine. susie gharib is off tonight. this is "nightly business report" for monday, august 17. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> jeff: good evening, everyone. stocks tumbled today as a global sell-off spilled over to wall street. dragging the global economy lower. on wall street, the selling was broad and deep, the dow dropped 186 points, nasdaq fell 54 and the s&p 500 lost 24. wor
PBS
Aug 26, 2009 7:00pm EDT
briefing.com tells us why kraft foods has landed on his bargain basement radar. >> jeff: then, remembering the liberal lion. we look at how the late senator ted kennedy shaped health care reform and what happens to those efforts now. >> paul: i'm paul kangas. >> jeff: and i'm jeff yastine. susie gharib is on assignment. this is "nightly business report" for wednesday, august 26. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> jeff: good evening, everyone. a much bigger increase than forecast. sales of new homes jumped 9.6% in july. could it be the housing market is turning? scott gurvey reports. >> reporter: it was the fourth straight month of increased new home sales and although this is a number with a wide margin of error, it did encourage those who see a bottom in housing. beth ann bovino of standard and poor's notes there has also been increased buying of distressed properties and existing homes. >> those homeowners were actually free to move and actually buy something
PBS
Aug 11, 2009 7:00pm EDT
business report for use it, august 11th. this program was made possible by contributions to your pbs station from viewers like you. thank you. 7//& captioning sponsored by wpbt >> susie: hazardous to the economy's health. that was the warning today from the congressional watchdog monitoring the government's bailout of the nation's banks. according to a report from the congressional oversight panel, banks still have plenty of problem loans on the books and that could threaten the economic recovery. how bad is this situation? stephanie dew talked today with the panel's chairwoman, elizabeth warren. >> how vulnerable is the financial system to the toxic assets? >> what's vulnerable -- it's vulnerable in two ways, first, most of the toxic acids -- assets that were there in october are still there with all the implications in terms of as they don't pay off, they run the risk of bringing the banks down. the second is so long as these assets remain on the bank's books, every time they get capital in, they use it as sort of a hedge against those assets rather than turning around and lending
WETA
Aug 26, 2009 6:30pm EDT
. >> paul: the barga hunter return street critique guest trick o'hare obriefing.com tells us y kraft foods has land on his bargain basement rar. >> jeff: the remembering the liberal li. look at how the late senato ted kennedy shapedealth care reform and what happens to tse efforts now. >> pl: i'm paul kangas. >> jeff: and i'meff yastine. susie gharib is assignment. th is "nightly business report" for wednesda august 26. "nightly business rert" is made ssible by: this progr was made possible by contributions to yourbs station from viewers le you. thank you. >> jeff: good evening,veryone. a much bigger increase tn forecast. les of new homes jumped 9.6% in july. coulit be the housing market is turning? scott gurvey rorts. >> reporter: it was the urth straight month of increasenew ho sales and although this is a number with a wide mgin of error, it did encoure those who see a bottom in hoing. beth ann bovino of staard and poor notes there has also been increased ying of distressed properties and exiing homes. >> those homeowners we actually free to move and acally buy something sewhere. so you
WETA
Aug 28, 2009 1:00am EDT
. expects $32 blion will be used forosses regulatorslready see coming. that leaves a ttle more than 0 billion to cover the unexpected. and wi 416 banks on the f.d.i.c.'s problem list holdg assets of $300 blion, there is plty of room for unexpected. >> they' going to need more money. >> reporter: doug elliott studies the financl crisis for the ookings institution. needed, the fdic can borrow fr the treasury to shore up it's depositnsurance fund, but elliott thinksaxpayers won't ha to any losses. >> my best gue is that taxpayerwon't have to put up anything. that the preums they can charge to the bas over the next, say ten years, can cov this crisis. but we don't know. >> reporter: jameshessen, chief ecomist, for the american banrs association says ban are doing their part to help the fdic. they are already ping higher premiums for deposit insuran and the industry set ade $67 billion the second quarter to cover their growing loanosses. >> it's a matt of trying to be udent having income a little le because they want to have the resources set aside handle the loan loss they expect in ch a
WETA
Aug 6, 2009 6:30pm EDT
impressed. gadgets can livenywhere in the screen. a libraries folderakes a little getting used tout is effectivin combining your work, ev if it is stored on different computers in a network. but e biggest news is under the vers, "windows seven" is moretable, faster and smaller than vista. it ran well on mold laptop, which couldn't hane vista. pcg.com's lance ulanoff agrees wi my review and notes this time, miosoft has played down e hype. >> basicly they're saying this an operating system that works. it gets the job done. it's going to be learn. it's goi to work on the hardware thayou currently have. you won't necessary have to upgrade to run it. i think they'rgoing to right the windows sh with this opating system. >> reporter: so the verdt: if u're buying a new computer, s, get "windows 7." in fact, that's the be way to do it. if you are already running vista, yes. the upgrade is virtuly painless and you will pleased you did it. stl running xp, now it gets teresting. the swer is, maybe. a lot people, including a lot of companies, ipped vist if you notnly skipped vista, buare also still
WETA
Aug 3, 2009 6:30pm EDT
. >> susiejoining us now with more analysis, richard bov veteran banking analyst rochdale securits. >>uzanne: let's get right to the $3 million settle -- $33 settle., shod it have been mo? >> i don't thi it should have en more. i don't ink the government should tell a companyo do something en fine them after they do it. but $33 million is very small relative to the $5.8illion in bonusthat were paid. i'd say just a slap on the wrist. it wasn't meaningful stement byhe government. >> shareholders have beenery angry about this whole b of a/merrill lynch merger, suld th be satisfied been is news? >>ou can't besatisfied if the sec fis your company but i ink they haveo feel some degree of relief th there will be no further activy related to this situatn. that it wil not ht their stock price, will not hurt their company. they can move on andorget this for the moment. >> do you think new yor attorney generalill move on, they have been grilling nk of america overall of these devepments for months now. is it over? is thi chapter over? >> i think it is. i think tha congress move on to much big
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